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Required 1, 2 please solve the requirements for me Saved following information applies to the questions displayed below.) Co.'s long-term available-for-sale portfolio at the start
Required 1, 2
please solve the requirements for me
Saved following information applies to the questions displayed below.) Co.'s long-term available-for-sale portfolio at the start of this year consists of the following. vailable-for-Sale Securities Company A bonds Company B notes Company C bonds Cost $530,700 159, 250 661,000 Fair Value $495,000 151,000 647,710 toll enters into the following transactions involving its available-for-sale debt securities this year. Tan. 29 Sold one-half of the Company B notes for $78,000. July 6 Purchased bonds of Company x for $123,600. Nov. 13 Purchased notes of Company 2 for $267,900. Dec. 9 Sold all of the bonds of Company A for $518,300. The fair values at December 31 are B, $84,300; C. $604,800; X, $100,000; and Z. $288,000. quired: Prepare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustmen the long-term investments in available-for-sale securities. Determine the amount Stoll reports on its December 31 balance sheet for its long-term investments in available for sale securities Complete this question by entering your answers in the tabs below. Required 1 Required 2 ustment for omplete this question by entering your answers in the tabs below. equired 1 Required 2 repare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustru e long-term investments in available-for-sale securities. View transaction list Journal entry worksheetStep by Step Solution
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